Introduction
The NFT market seems to have come out of a prolonged slump and are setting new records almost everyday in terms of sales as well as new launches. NFT trading volume surged in February and the momentum seems intact even in March, according to the latest sales data.
NFT trading volume topped US $2 billion in February, which is a whopping 117 per cent increase from the previous month. The NFT trading volume for March saw a slight dip of around 4 per cent to just over US $1.95 billion.
It is not surprising that these encouraging figures are inspiring different stakeholders to launch new offerings in order to lure in more users or retain their existing user base. NFT trading platform LooksRare plans to reduce its costs by 75 per cent while developing new features at the same time.
Initially, LooksRare charged 2 per cent per trade, which has now been reduced to 0.5 per cent. These measures are expected to allow its users to save around 30 per cent on gas fees by including gas-efficient smart contracts.
Then, companies in the management of traditional sports and players continue to explore the world of NFT. NHL player agency Alterno Management is the latest one, which is foraying into Web 3.0 with the launch of a new NFT-based membership program called SinBin Seasons. Alterno is believed to be the first agency to launch such a program, which offers fans digital collectibles and access to raffles for prizes such as experiences with participating players represented by the agency and physical memorabilia. Read on to find out more.
NFT trading platform LooksRare might reduce its trading fees
NFT trading platform LooksRare plans to reduce its costs by 75 per cent while developing its existing version by incorporating new features. Initially, LooksRare charged 2 per cent per trade, which has now been reduced to 0.5 per cent.
These measures are expected to allow its users to save around 30 per cent on gas fees by including gas-efficient smart contracts. It is now believed that users can buy a NFT with one wallet and send it through another wallet. The new features of LooksRare are expected to pose a challenge for its competitors, namely OpenSea and Blur.
NHL player agency Alterno launching NFT program
NHL player agency Alterno Management is foraying into the world of Web 3.0 with the launch of a new NFT-based membership program called SinBin Seasons. Alterno is believed to be the first agency to launch such a program, which offers fans digital collectibles and access to raffles for prizes such as experiences with participating players represented by the agency and physical memorabilia for US $12 per month.
The agency, believed to be the sport’s 17th largest by the total value of its active contracts, represents several high-profile players, including Lightning D Victor Hedman and Avalanche LW Gabriel Landeskog. The 11 players participating in SinBin Seasons at launch include Hedman, Devils C Jesper Boqvist, Blue Jackets D Adam Boqvist and Sharks D Mario Ferraro.
Alterno has invested five figures so far on its Web 3.0 initiatives, which also includes virtual land within the Sandbox metaverse alongside major brands such as Adidas, TIME magazine and The Walking Dead. The initial goal for SinBin Seasons is to sign up 1,000 users.
Donald Trump’s NFT sales surge after his indictment in New York
Sales of former US President Donald Trump’s NFT soared after his court appearance in New York. The former President released his series of digital collectibles in December. Buyers could own a token featuring his likeness for US $99 and enter sweepstakes to win exclusive experiences. The collection sold out quickly and more than doubled in price in the secondary market soon after the launch.
Trump Digital Trading Card holders collectively sold 47 tokens over a six-hour period, which is an increase of a whopping 462 per cent. However, it is still only a relatively small amount of activity for NFT. Nakamigos, one of the top trending NFT collections, had 1,286 sales in the same six-hour period. The NFT representing sweepstakes prizes associated with the Trump Digital Cards mint have had zero sales in the last six hours.
Donald Trump became the first former US president to be arrested on criminal charges in the history of the country. Trump was taken into custody after he surrendered in connection with the US $1,30,000 hush money payments to porn star Stormy Daniels and others before the US presidential election in 2016 to cover up an alleged affair. The charges against Trump include a series of payments he made from August 2015 to December 2017 and recorded as false business entries.
NFT and traditional artists descend on New York for Babylon Art Exhibition
Traditional artists as well as NFT artists have congregated in New York to attend the Babylon X NYC, an exhibition of more than 100 physical and digital artworks that will take place on April 12 and April 13, 2023.
The exhibition, set up by Babylon – a Web 3.0 gallery specializing in primary sales of NFT editions – will showcase works by the project’s 30 founding artists, who are well known for their impact on the NFT art space.
The exhibition will also have an exclusive feature in the form of works by prominent Armenian artist Tigran Tsitoghdzyan, whose debut drop on Ethereum will be hosted on Babylon and – for the first time on public display – the personal collection of Babylon founder Paruyr Shahbazyan.
The founding artists of Babylon include mainstream creators like Rik Oostenbroek, who have worked with brands such as Mercedes Benz, Apple and Nike in his career spanning more than 20 years, Archan Nair, whose work featured in Rolling Stone and Vogue, and Terrell Jones, whose gangster film-inspired pieces have been auctioned at Sotheby’s.
Babylon is a passion project of Shahbazyan, who is considered as one of the largest and most followed independent NFT collectors. His collection is estimated to be around 4,000 ETH and features rare and valuable pieces such as a 3D Glass Hoodie Punk, a Spiritual Fidenza and a Red Ringer.
Big Eyes Coin launches its much-awaited NFT collection
Big Eyes Coin, one of the most highly anticipated crypto pre-sales of the year, has released its premium NFT collection. The cat-themed NFT collection is now available for purchase on popular NFT marketplace OpenSea, where community members can browse and select their favorite NFT.
With the launch of the NFT collection, Big Eyes Coin is positioning itself as a major player in the crypto space, offering investors the opportunity to own a unique piece of blockchain-based artwork.
Big Eyes Coin has been creating ripples in the market for some time now, as the cat-themed meme coin has established a unique place among the meme coins. The team has pledged to donate 5 per cent of the visible charity wallet to organizations involved in conservation of oceans. In addition, it provides loot boxes with every $BIG purchase and has a club for NFT holders called the Sushi Club.
David Bowie returns with new Music NFT
David Bowie, widely regarded as one of the 20th century’s most influential musicians, has come back into the limelight with the release of a never-before-heard rendition of his iconic 1983 tune “Let’s Dance” through a small batch of NFT.
Gala Music, a division of Web 3.0 company Gala Games, announced a collaboration with music publisher Warner-Chappell Music and producer Larry Dvoskin to release the rendition as NFT. Incidentally, this is not Bowie’s first brush with the world of NFT. In October, it was reported that the David Bowie Estate partnered with popular NFT marketplace OpenSea to sell an NFT collection commemorating the singer’s life and themes from his artistic career. The collection is called “Bowie on the Blockchain”. Some of the items proved to be popular and sold for more than US $120,000. Bowie was very prolific and has released more than 27 studio albums and 128 singles, in addition to numerous live albums and soundtracks.
Conclusion
The revival of the broader crypto and NFT markets seem to be giving a fresh lease of life to the works of David Bowie, one of the 20th century’s most influential musicians. Gala Music, a division of Web 3.0 company Gala Games, announced a collaboration with music publisher Warner-Chappell Music and producer Larry Dvoskin to release the rendition as NFT. This initiative proves the real-world use cases of NFT and how it can be used to bring a fresh lease of life to long-lost intangible assets.
The growing popularity of NFT is also evident from the interest being shown in Babylon X NYC, an exhibition of more than 100 physical and digital artworks that is scheduled to happen later this week. .
The exhibition, set up by Babylon – a Web 3.0 gallery specializing in primary sales of NFT editions – will showcase works by the project’s 30 founding artists, who are well known for their impact on the NFT art space. Hope you enjoyed reading it. Thank you.
